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Statutory Deadline
150-day limit for Section 122 tariffs expires unless extended by Congress.
Effective Date
Tariffs expected to take effect 'almost immediately' for all incoming imports.
Market Response
KIEP and trade experts signal high uncertainty for South Korean exporters.
Tariff Announcement
Trump announces 10% global tariff on Truth Social and signs order in the Oval Office.
Executive Pivot
Trump signs new 10% global tariff order under Section 122 of the 1974 Trade Act.
Final Ruling Issued
The Court upends the tariffs, citing a lack of clear Congressional delegation.
SCOTUS Ruling
US Supreme Court rules 6-3 that IEEPA-based tariffs overstepped executive authority.
SCOTUS Ruling
Supreme Court strikes down the use of IEEPA for trade rebalancing.
SCOTUS Grants Certiorari
The Supreme Court agrees to hear the case on an expedited basis.
Reciprocal Framework
Trump administration implements reciprocal tariffs using IEEPA authority.
Appellate Split
Two federal appeals courts issue conflicting rulings on executive trade powers.
Initial Lawsuits Filed
A coalition of retailers and importers challenges the legality of the new tariff rounds.
The US Supreme Court has struck down emergency tariffs implemented by the Trump administration, providing immediate relief to major trading partners like China and India. This landmark ruling curtails executive authority over trade policy and signals a significant shift in the global regulatory landscape for cross-border commerce.
US Trade Representative Jamieson Greer has confirmed that bilateral trade agreements remain legally binding despite a recent Supreme Court ruling against the administration's tariff authority. The statement aims to provide market certainty and prevent the unraveling of complex international trade frameworks.
The US Supreme Court has invalidated the executive's use of the 1977 International Emergency Economic Powers Act for reciprocal tariffs, prompting an immediate shift to Section 122 of the 1974 Trade Act. This regulatory volatility is forcing South Korean trade experts and major corporations to reassess their long-term US investment and export strategies.
President Trump has signed an executive order imposing a 10% global tariff on all imports, leveraging Section 122 of the Trade Act of 1974. This move follows a 6-3 Supreme Court ruling that invalidated previous tariffs enacted under emergency powers, forcing a strategic shift in the administration's trade enforcement mechanism.
The US Supreme Court has issued a definitive ruling curtailing the executive branch's power to unilaterally impose tariffs, specifically targeting recent measures enacted by Donald Trump. This decision marks a significant shift in trade law, potentially requiring Congressional approval for future broad-based economic duties.